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5 things to watch on the ASX 200 on Thursday

On Wednesday the S&P/ASX 200 Index (ASX: XJO) was on form again and recorded another solid gain. The benchmark index climbed a further 5.5% to 4,998.1 points.

Will the Australian share market be able to build on this on Thursday? Here are five things to watch:

ASX 200 poised to surge higher.    

The ASX 200 looks set to continue its ascent on Thursday after another positive night of trade on Wall Street. According to the latest SPI futures, the benchmark index is expected to jump 185 points or 3.7% at the open. In late trade on Wall Street the Dow Jones is up 5.6%, the S&P 500 index has climbed 4.3%, and the Nasdaq index is up 2.3%. This follows the passing of a US$2 trillion stimulus package by the U.S. Senate.

Oil prices push higher.

Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could be on the rise after oil prices pushed higher for a third day in a row. According to Bloomberg, the WTI crude oil price is up 3% to US$24.72 a barrel and the Brent crude oil price has climbed 2.1% to US$27.72 a barrel. This was driven by optimism over the U.S. stimulus package.

Brickworks result.

The Brickworks Limited (ASX: BKW) share price will be on watch today when it releases its half year results. The buildings products company is expected to report a 37% decline in underlying NPAT from continuing operations. Also releasing its half year results on Thursday is Washington H. Soul Pattinson and Co. Ltd (ASX: SOL). The investment house is expected to report a regular net profit after tax in the range of $120 million to $130 million.

Gold price tumbles.

Gold miners including Newcrest Mining Limited (ASX: NCM) and Resolute Mining Limited (ASX: RSG) could come under pressure today after the gold price tumbled lower. According to CNBC, the spot gold price fell 0.9% to US$1,645.50 an ounce. The precious metal dropped lower after the U.S. stimulus package sent equities racing higher.

Domino’s Pizza rated as a buy.

The Domino’s Pizza Enterprises Ltd (ASX: DMP) share price could be on the rise today after Goldman Sachs rated its shares as a buy with a $61.90 price target. The broker believes that Domino’s is one of the best-placed quick service restaurant models to tackle reduced foot traffic. This is because it is predominantly a pick-up/delivery restaurant business model.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Brickworks and Domino’s Pizza Enterprises Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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